Geely departs from convention with plan for new EV unit: sources reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Taiwan Semiconductor Mfg. Co. Ltd. (NYSE: TSM) in making chips for a self-driving car.
Later, South Korean auto giant
Hyundai Motor Company GDR (Pink: HYMTF) confirmed that it is in talks with Apple regarding EV manufacturing, although it subsequently said it is negotiating with multiple automakers.
Reports that emerged over last weekend suggested the talks between Hyundai and Apple fell apart.
French automaker
Renault ADR (Pink: RNLSY) could be a better fit as a potential partner for Apple, according to JPMorgan analysts. Renault s contract manufacturing experience, industrial collaboration and its massive idle capacity in Europe could be selling propositions for a potential partnership, the analysts said.
Covid Keeps Workers in Factories, Distorting China Spending
Bloomberg 2/10/2021
(Bloomberg)
For the first time in her life, Zhang Sufang won’t be going home for the Lunar New Year. Instead the 37-year-old production supervisor is exchanging gifts with her parents and 16-year-old son by post as fears of reigniting the pandemic in China disrupt the nation’s biggest holiday.
“When I received boxes from home, I burst into tears,” said Zhang, who works at Fujian Strait Textile Technology Co., a yarn-maker in eastern China.
China may have got its control of Covid down to a handful of new cases per day, but quarantines and travel curbs to keep it that way have forced millions of factory workers to give up the idea of a traditional family gathering. That will distort what is traditionally an annual catalyst for spending, a setback for a government trying to boost the role of consumption in the economy.
Hong Kong stocks end lower on profit taking in technology and materials
News Highlights: Hong Kong stocks end lower on profit taking in technology and materials HK-> Shanghai Connect daily quota uses 0.4%, Shanghai-> HK daily quota uses 20.4% HSI -0.3%, HSCE -0.4%, CSI300 + 0.3% FTSE China A50 -0.1%
BEIJING, Jan. 27 (Reuters) – Hong Kong shares closed lower on Wednesday as investors sold technology and materials stocks after a recent strong rally. At the end of trading, the Hang Seng index fell 93.73 points or 0.32% to 29,297.53. The Hang Seng China Enterprises Index fell 0.38% to 11,651.24. The stock sub-index of Hang Seng tracking technology fell 1.51% after hitting a record high on Monday, while the materials sector was down 2.1%. There has been a correction after the recent strong gains as mainland investors bought an average of billions of Hong Kong dollars a day through the Stock Connect linking the mainland and Hong Kong during the latest sessions, st